FGIC into new assets, CDOs

Financial Guaranty Insurance Corp. has big plans in 2004, eyeing asset-backed deals outside of HELOCs - the only ABS sector it has historically dabbled in - said recently named President and Chief Underwriting Officer Howard Pfeffer.

The newly restructured monoline plans to expand into CDOs, among other fresh areas, including non-mortgage consumer finance, leasing and commercial finance, global RMBS and other quadrants of the real estate ABS market, such as subprime and Alt-A product.

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